Research Detail
| 2023/09/26 / Erste Group Research |
Economy expected to stagnate in 2023, inflation remains high The economic slowdown in Austria, which started in 2H22, turned into a recession in 2Q23. Industry and trade suffered the biggest decline. Sentiment indicators continue to show a bleak prospect in almost all sectors. We expect the economic downturn to continue in the next months. Inflation broke the downward trend and rose again in August. However, it is expected to decline in autumn, albeit slower than previously assumed, partly due to the base effects. In September, the ECB increased the key interest rates by a further 25 basis points. We believe it is very likely that with this increase interest rates have peaked. |
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General information
| Author | Erste Group Research |
| Date | 2023/09/26 |
| Language |  |
| Product name | CEE Country Macro Outlook |
| Topic in focus | FX, Macro/ Fixed income |
| Economy in focus | Austria |
| Currency in focus | Euro |
| Sector in focus | - |
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